Financial advice

Best: Sign up for the company 401K and put at least as much as the company match (5%). Given by the Chief Financial officer

worst: Don't do the 401K, you need the money now. Given to myself...I let 5 years of company match slip away. Effing worst!

Best: From the Wealthy Barber: put 10% of your income aside as savings, no matter how little or how much you earn.

Worst: Nothing comes to mind.

Being in education, my husband and I rely on people in finance to advise us because we have NO idea what to do!

Best advice I ever received: start your 401K early and never cash out, but roll it over.

Worst advice: when I divorced my first husband, I waived my rights to his pension.

#1: Don't spend what you don't have (no credit cards) and save at least 10% of your pay check every time. - Dad

#2: Here, sign up for this **insert store name** charge card and we can get an extra 15% off. - Mom

....lol

God's honest truth it was just like that growing up.... ^_^

I work in finance too and have heard some BS advice before:

Best advice: Live on a college student's budget now and you'll be able to live like a king (or queen) later.

Worst advice: Money comes and goes, so just enjoy it now because down the road you may not have it.. haha

Worst = Pay off everything you own. I did and it hurt my credit. Me thinking that since we didn't owe anything we were having good credit. Seems you have to have some type bill you pay monthly or else your credit score bottoms out.
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Best = Enroll in 401k and save the max.

Best financial advice -- Quit writing checks. Pay for everything with cash. If you don't have cash, you don't need it. This advice came to me in the 1980s. He said that when you pass over cash, no matter what you are paying for, there's a little grief (sometimes a lot of grief) seeing that money go away. You don't get that with checks or with plastic...

Worst financial advice -- Borrow the down payment for your first home. Okay, so we really wanted it, and took that advice, but seriously people--if you don't have the down payment for a major purchase, you should ask yourself---Two payments for a house I really can't afford?????

The best financial advice did not come from specifics but rather from watching what others did and either doing the same if it worked or not doing it if i didn't. Why reinvent the wheel? My Uncle and my Father are the financial equivalent to the tortoise and the hare. My Pop is the tortoise. The race is long over. On top of that is was and still is a mensch. Everyone should have my Pop as a role model.

Best financial advice I ever got: "Act your wage. With the exception of a house, if you have to borrow money to buy something, then you can't really afford it." My mother taught me that more than 30 years ago when I was considering borrowing money to buy my first car at age 16.

Worst financial advice I ever got was from an National Board of REALTORS "your first mortgage" pamphlet booklet that recommended we could "afford" a house payment of 33% of our household GROSS income. Luckily, we didn't listen to it. I did some math and used some common sense, and figured out how much of a payment *we* were really willing to make (20% of our household NET, thank you!). And guess what: we love our house--and love it even more now that it's paid off because we were able to afford extra principal payments!

Best Advice: There are two ways to make money: 1) Man at work, 2) Money at work - Family Friend

Worst: Put all your money in the bank. Investments are to risky - Parents
Worst v2: Listen to your parents, they've lived and have the answers. - me..and big mistake!